{"id":13382,"date":"2021-10-08T10:43:49","date_gmt":"2021-10-08T14:43:49","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=13382"},"modified":"2021-12-10T14:30:05","modified_gmt":"2021-12-10T19:30:05","slug":"bitcoin-soars-to-50000-again-on-institutional-demand","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/bitcoin-soars-to-50000-again-on-institutional-demand\/","title":{"rendered":"Bitcoin Soars to $50,000 Again on Institutional Demand"},"content":{"rendered":"\n<p>Bitcoin, the world&#8217;s most prominent cryptocurrency, surged on Tuesday, breaking through the $50,000 mark for the first time in four weeks and posting gains this month on rising institutional interest, most recently 2.6% higher at $50,498.<\/p>\n\n\n\n<p>Less prominent coins, which tend to reflect the price of bitcoin, also rose, with ether up 1.5% to $3,434 and XRP up 2.2% to $1.0656.<\/p>\n\n\n\n<p>Market analysts attributed the rise in institutional cryptoservices provided by banks and financial institutions to rising investor demand, which has been a factor in the rise of Bitcoin.<\/p>\n\n\n\n<p>U.S. Bancorp recently launched a cryptocurrency depository service for institutional investment managers who own private funds in the United States and the Cayman Islands.<\/p>\n\n\n\n<p>On the other hand, Bank of America released its initial research on cryptocurrencies and related digital assets, while other major financial institutions stepped up their exposure to the asset class.<\/p>\n\n\n\n<p>Investment flows into the sector were bullish except for a few sluggish months in the summer.<\/p>\n\n\n<p>For more information, you may view the <a href=\"https:\/\/www.reuters.com\/technology\/bitcoin-hits-50k-first-time-four-weeks-2021-10-05\/\" target=\"_blank\" rel=\"noopener\">original story<\/a> from Reuters.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin, the world&#8217;s most prominent cryptocurrency, surged on Tuesday, breaking through the $50,000 mark for the first time in four weeks<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[124],"class_list":["post-13382","post","type-post","status-publish","format-standard","hentry","category-todays-news","tag-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/13382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=13382"}],"version-history":[{"count":5,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/13382\/revisions"}],"predecessor-version":[{"id":13413,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/13382\/revisions\/13413"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=13382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=13382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=13382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}